Mossimo and IXYS make CFO appointments with the SEC in mind
Two US companies have appointed people with accounting experience to be their new CFOs, looking to use their expertise to ensure compliance with financial regulations. Mossimo, the US clothing company, has appointed former Moss Adams accountant Vicken Festekjian as its new CFO.
While at Moss Adams, Festekjian developed a strong working relationship with Mossimo, working for three years on the company's account, reviewing financial statements and assisting with SEC filings.
Mossimo CEO Edwin Lewis says: ?As our accountant, Vick has done a great job assisting us with the preparation of our financial statements and serving as a key liaison with our auditors to ensure full compliance with the new regulations created by Sarbanes-Oxley.?
?We look forward to further leveraging his experience and knowledge,? he adds.
Meanwhile IXYS Corporation, the US company that develops and markets power conductors, has also appointed a CFO with accounting experience.
Uzi Sasson, IXYS's newly appointed CFO, is currently CEO at Sagent Management, the tax and accounting consulting firm he founded in January of this year. He has also been the interim CFO for Digital Power, the power supply company, since June 2004.
IXYS CEO Nathan Zommer says: ?We are pleased to have Mr Sasson join our board of directors, and add financial expertise to our team, in accordance with the new regulations for public companies.